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During senior year, every Whitman undergraduate participates in Whitman’s Capstone experience – an experiential program that brings together all of the elements of the Whitman education in the context of an original business concept that students conceive and develop as a viable, sustainable, and truly innovative new venture. The cross-disciplinary course, Strategic and Entrepreneurial Management, places unique demands on students, culminating in a new venture based on a business concept that the student-teams propose and develop. This new venture is detailed through a business plan developed by the students. The expectation is that each team’s business plan will be of sufficient quality to be presented to potential investors.

At the conclusion of both the fall and spring semesters Whitman's Department of Entrepreneurship and Emerging Enterprises hosts the Capstone Business Plan Competition. Student-teams present their business plans before panels of judges composed of entrepreneurs, venture capitalists, and others from the entrepreneurial community in Central New York. The competition takes place in two rounds over two days, with typically between 40 and 50 teams competing each semester. On the first day, all teams present their business concepts and plans to the judges, who evaluate their plans based on the business concept, and its viability as a sustainable and ‘grow-able’ business. Approximately five teams are selected to compete in the finals, held the next day using a similar format.

Cash prizes are awarded to the top three teams. In addition, two of the top teams are selected to represent the Whitman School and Syracuse University at national undergraduate business plan competitions.